State of Illinois

"In the coming weeks, we will be taking a much closer look at the challenges we face and how we will address those challenges reasonably and responsibly," said Mayor Brandon Johnson.

The governor said a bill authorizing non-home rule local governments to enter into public-private partnerships created the potential for corruption.

The Illinois Attorney General maintains it is unclear whether the state was even defrauded by the Wall Street banks that are accused of rate-rigging by a whistleblower.

Under Reynolds' leadership, Loop has grown into a full-service investment firm with more than 260 employees that's one of the world's largest minority or women-owned investment banking firms.

The Senate proclamation says Shields left behind "an indelible mark on the public finance industry."

Her prolific coverage and willingness to share knowledge with local reporters brought transparency and accountability to Midwest public finance.

The group of banks would pay $68 million to settle the lawsuit, which originally estimated damages at $340 million.

The plaintiff that brought the case on behalf of the state says the banks inflated interest rates through a private, invitation-only VRDO index that influenced SIFMA's weekly index.

While all four of Chicago's weakly funded pension funds hit a milestone by posting modest increases in their funded ratios in 2021, they lost ground in 2022 due to investment losses driving up the city's pension burden to $35.4 billion

The state plans to enter the market before the fiscal year closes June 30th with eyes turned to Fitch and whether it will follow Moody's and S&P with an upgrade.